State of New Jersey Common Pension Fund D Sells 49,886 Shares of General Motors Company $GM

State of New Jersey Common Pension Fund D reduced its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 13.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 321,501 shares of the auto manufacturer’s stock after selling 49,886 shares during the period. State of New Jersey Common Pension Fund D’s holdings in General Motors were worth $15,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. AlphaQuest LLC boosted its position in shares of General Motors by 13,816.7% in the 2nd quarter. AlphaQuest LLC now owns 31,591 shares of the auto manufacturer’s stock worth $1,555,000 after purchasing an additional 31,364 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in General Motors by 43.5% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 2,267 shares of the auto manufacturer’s stock worth $112,000 after buying an additional 687 shares during the period. Principle Wealth Partners LLC raised its stake in General Motors by 6.8% during the 2nd quarter. Principle Wealth Partners LLC now owns 8,153 shares of the auto manufacturer’s stock worth $401,000 after buying an additional 522 shares during the period. Ethic Inc. raised its stake in General Motors by 4.9% during the 2nd quarter. Ethic Inc. now owns 75,309 shares of the auto manufacturer’s stock worth $3,741,000 after buying an additional 3,499 shares during the period. Finally, Jackson Thornton Wealth Management LLC acquired a new stake in General Motors during the 2nd quarter worth $329,000. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GM has been the topic of several research analyst reports. UBS Group raised their price objective on General Motors from $81.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark reaffirmed a “buy” rating on shares of General Motors in a research note on Wednesday. Mizuho set a $76.00 price objective on General Motors in a research note on Wednesday. CLSA raised General Motors to a “moderate buy” rating in a research note on Monday, July 7th. Finally, Tigress Financial lifted their price target on General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

General Motors Stock Performance

GM opened at $69.60 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.05. The business’s 50-day moving average price is $59.08 and its two-hundred day moving average price is $52.86. The company has a market capitalization of $64.92 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.35 and a beta of 1.33. General Motors Company has a 1 year low of $41.60 and a 1 year high of $69.70.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. The business had revenue of $48.59 billion for the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a return on equity of 12.29% and a net margin of 1.62%.General Motors’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Equities analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. General Motors’s payout ratio is currently 12.07%.

Insider Buying and Selling

In related news, CEO Mary T. Barra sold 753,720 shares of General Motors stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total value of $45,185,514.00. Following the sale, the chief executive officer owned 433,527 shares of the company’s stock, valued at approximately $25,989,943.65. The trade was a 63.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 6,600 shares of General Motors stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the sale, the executive vice president directly owned 8,513 shares in the company, valued at approximately $527,380.35. This represents a 43.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,335,424 shares of company stock worth $139,694,083 in the last three months. Insiders own 0.54% of the company’s stock.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.